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Ordinance No. <br />Page 2 <br /> <br /> <br />2 <br /> <br />SECTION 2. The City Council of the City of Mounds View hereby amends Title XI, <br />Chapter 119 of the Mounds View Municipal Code by adding the following section 119.008 <br />as follows: <br /> <br />119.008 AFFORDABLE HOUSING REQUIREMENTS <br /> <br />For newly constructed, converted, or infill multi-family, co-living or townhome residential <br />developments with 20 or more newly created dwelling or co-living units, at least 8% of the <br />newly created units must be affordable to households at or below 60% of AMI. <br /> <br /> <br />SECTION 3. The City Council of the City of Mounds View hereby amends Title XI: <br />Business Regulations, Chapter 119 of the Mounds View Municipal Code by adding the <br />following section 119.030- 119.034 as follows: <br /> <br />SALE OF AFFORDABLE HOUSING BUILDING <br /> <br />119.030 PURPOSE <br /> <br />The purpose of this article is to provide housing stability, protection and notification to <br />tenants in rental housing during an ownership transition. This article requires notice to <br />tenants and to the city whenever title to property containing three or more rental housing <br />units is conveyed or otherwise transferred. Under this article, the owner would be required <br />to pay resident relocation benefits if they take certain actions during the three-month <br />tenant notification period and the resident needs to move as a result of that action. <br /> <br />119.031 NOTICE. <br /> <br />(A) Notice to tenants. Whenever title to property containing a housing building is <br />conveyed or otherwise transferred, the new owner must, within 30 days after the <br />real estate closing, deliver written notice to each housing unit tenant of the housing <br />building that the property is under new ownership. The notice must include, at a <br />minimum, the following information: <br />(1) The name, mailing address, and telephone number of the new owner. <br />(2) The following statement: <br /> <br />"Mounds View City Code Title XI, Chapter 119 provides for a three-month <br />tenant notification period for housing unit tenants. Under the ordinance, a <br />housing unit tenant may be entitled to relocation assistance from the new <br />owner if, during the three-month tenant notification period, the new owner: <br />i) Terminates or does not renew the tenant's rental agreement <br />without cause; <br />ii) Raises the rent and the tenant terminates their rental <br />agreement due to the rent increase;